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Christelle Fasano, PharmDDirector, Business Development
Life Sciences & Health Technologies
Foreign Investments
2018
GREATER
Life Sciences &
Health Tech hub
MONTRÉAL
01Montreal’s economy at
a glance
p.3
02Life Sciences: a
strategic sector for the
province of Quebec
p.11
03Life Sciences &Health
Tech: a unique
interconnected &
collaborative
ecosystem
p.13
04Highly qualified pool of
talents
p.23
05Advantageous cost
structure for business
and life
p.26
06Montreal International:
your strategic partner
p.35
Montreal’s economy
at a glance
01
4
LOS ANGELES
VANCOUVERTORONTO
BOSTON
NEW YORK
WASHINGTON
LONDON
PARIS
MONTRÉAL
CHICAGO
A STRONG AND GROWING METROPOLIS STRATEGICALLY LOCATED IN NORTH AMERICA
Sources: Conference Board of Canada, 2017; Statistics Canada, 2018;
Montréal International Analysis
POPULATION
4.138 million residents
23% of foreign-born population (34% for the city
of Montréal)
ECONOMY
$203.5 billion GDP in 2017
Real GDP (2016-2017): + 3.5%
Unemployment rate (2018): 6.6%
$2 billion in foreign direct investment in 2017
(50% more than 2016)
LOCATION
82 municipalities, 1 metropolitan area
A 90-minute flight from Boston and New York City
Less than a one-hour drive to the U.S. border
5
Thanks to NAFTA, CETA
and 12 other free trade agreements in force*
Direct access to 44 countries
with 1.2 billion consumers
and a combined GDP of
US$48 trillion(60% of the world’s output of goods and services)
+ Direct access to 300 million Asian and Oceanian
consumers with CPTPP**
A GATEWAY TO 60% OF THE WORLD’S GDP
*North American Free Trade Agreement (NAFTA) and Comprehensive
Economic and Trade Agreement (CETA)
**Comprehensive and Progressive Agreement for Trans-Pacific Partnership
(CPTPP) not yet in effect
Sources: Invest in Canada, 2018; The World Bank, 2017
6
Two international airports: 18.2 million passengers
in 2017 (+ 9,5%)
Direct flights to 146 direct destinations, including 118
international (29 for the USA)
Major investments of $2.5 billion within 5 years
2nd largest port in Canada and 1st container port
in Eastern Canada
38 million metric tons of merchandise in transit every
year, including 36% containerized cargo
Major investments announced for the upcoming years
ACCESS TO HIGH-QUALITY TRANSPORTATION INFRASTRUCTURE
Sources: Aéroports de Montréal, 2018; Montreal Port Authority, 2017;
CargoM, 2017© A
éro
port
s d
e M
ontr
éal
7
A WORLD LEADER IN HIGH VALUE-ADDED SECTORS
* In terms of job concentration.
• Sources: MILA; Québec Film and Television Council, 2018; Game Industry career guide, Best cities for video game
development jobs, 2015; Statistics Canada, 2016; U.S. Bureau of Labor Statistics, 2016; Montréal International Analysis
2ND
largest aerospace hub
in North America*
6TH
largest life sciences
and health technologies hub
in North America*
1ST
in Canada and a
world leader in VFX
& animation
1ST
concentration of deep
learning researchers
in the world
5TH
video game
development hub in
the world
Sample of major companies
located in Greater Montréal:
8
Nearly $1.1 billion in AI investments announced
in Greater Montréal since 2016
Among the largest and most prestigious group
of deep learning researchers in the world
All major players and a thriving community aiming
for a better world
Sources: MILA; Montréal International Analysis
A WORLD-CLASS HUBIN ARTIFICIAL INTELLIGENCE
9
A BOOMING STARTUP ECOSYSTEM
One of the top startup ecosystems in the world
US$800 million in VC financing in Montréal in 2017
and US$399 million for Q1 2018
– more than any other Canadian city
+30 incubators/accelerators
– and counting!
+45 coworking spaces
Sources: Global Ecosystem Report, 2018; Montréal Startup Ecosystem
Report, Credo, 2016; Midterm Report – Smart City, February 2017;
Canadian Report Money Tree, PwC Canada | CB Insights, 2018© S
usan M
oss
10
Best job growth in 2017 among the 20 largest urban
centers in Canada and the U.S.: + 3.6%
Source: Conference Board of Canada; U.S. Bureau of Labor Statistics
MONTREAL’S ECONOMYIS ON THE MOVE
0,8
%
1,0
%
1,2
%
1,4
%
1,5
%
1,5
%
1,6
%
1,7
% 2,0
%
2,2
%
2,2
%
2,3
%
2,6
%
2,7
%
2,8
%
3,6
%
Job growth between 2016-2017 in %Selected large metropolitan areas
in Canada and the U.S.
Life sciences: a
strategic sector for
the province of
Quebec
02
12
Life Sciences strategy
Research and Innovation strategy
Digital Strategy Advanced manufacturing
(biomanufacturing)
More than $ 1,7 B
A STRONG SUPPORT TO FOSTER INNOVATION IN QUEBEC
Source: Minisitry of Economy, Science and Innovation, Quebec, 2017
A unique
interconnected &
collaborative
ecosystem
03
14
Province of Quebec
56,000 jobs(80% concentrated in Montreal)
+650 companies
LIFE SCIENCES AND HEALTH TECHNOLOGIES
++++
15
The Life Sciences
and Health Tech
Cluster
SNAPSHOT OF FOREIGN COMPANIESTHAT HAVE CHOSEN THE GREATER MONTREAL
16
A GROWING CRITICAL MASS OF INNOVATIVE COMPANIES(BIO-PHARMA, MEDTECH, AI, DIGITAL)
Interactive map - www.montrealinternational.com/business-map/
17
MAJOR HUBS TO BOOST BUSINESS PARTNERSHIPS
Multi-tenant hub specialized in the development
of Small molecules and Biologics & Vaccines
www.neomed.ca/en/
INNOVATION DISTRICT
www.quartierinnovationmontreal.com/en
www.citebiotech.com/city/
www.technoparc.com/en/
18
A STRONG SUPPORT FROM VENTURE CAPITAL IN QUEBEC
AmorChem
CTI Life Sciences
Lumira Capital II
Sanderling Ventures
TVM Capital Life Science
Versant Ventures
Emerillon Capital
Teralys capital
Caisse de dépôt et placement du Québec (CDPQ)
Fonds de Solidarité FTQ
BDC
April 2016: DalCor Pharmaceuticals completes $150 M financing
Proceeds to fund Phase 3 Trial of Dalcetrapib in Genetically Distinct
Patients with Acute Coronary Syndrome
October 2017 - A strong come back
of biotechs in Quebec
4 companies recently raised more
than $380M: Repare ($87M),
Clementia ($177M) , Milestone ($70M)
et PreciThera ($46M) – Source: Fonds
de solidarité FTQ
WORLD-RENOWNED SCIENTIFIC EXCELLENCE
RECENT MAJOR INVESTMENTS IN CUTTING-EDGEINFRASTRUCTURES
McGill University Health Centre (MUHC)
CHU Sainte-Justine, Mother & child university hospital center
Centre hospitalier de l’Université de Montréal (CHUM)
Reputed for our collaborative approach
(Research – Industry –Government)
20
INTERNATIONALLY-ACCLAIMED FIELDS OF EXPERTISE
OncologyCardio-
vascular and metabolicdiseases
Neuroscience and mental
health
Infectiousdiseases
Aging
Cellular therapy and regenerative medicine
Precision medicine (genetics, genomics and proteomics)
Medical Imaging
and cytometry
Big Data and
Artificial intelligence
21
EXAMPLES OF FLAGSHIP PROGRAMS TO ACCELERATE, DISCOVERY, DEVELOPMENT AND COMMERCIALIZATION
•Transforming earlyscientifc innovations into business partnershipopportunities
NEOMED
•Accelerating discoveryand commercializationof highly innovativetherapies in oncologyby strong partnershipswith industry
IRICoR
•Extensive oncologyresearch network
•Centre of Excellence in Precision Therapeutics
Q-CROC
EXACTIS
•One-stop shop for the development, translation and commercialization of ground-breaking cancer immunotherapies treatments
C3i
•Quebec’s Experts Unite to Offer Excellence in Early Clinical Research
CATALIS
•Transdisciplinary and intersectoral open innovation ecosystemor living lab – To develop next generationmedical technologies
TransmedtechInstitute
•Development of breakthrough tools and technologies that enhance biopharmaceutical R&D productivity
CQDM
•Consortium for Industrial Research and Innovation in Medical Technology
MEDTEQ
•Accelerator for medicaltechnology companies
CTS
•Space that transformsthe projects of techentrepreneurs intobusiness successstories
CENTECH
22
KEY EXPERTISE FOR THE HEALTH INDUSTRIES’ FUTURES ALL IN A SINGLE PLACE
Medical technologies
Digital health
Artificial intelligence
Bio-pharmaceuticals
19
Province of Quebec
56,000 jobs(80% concentrated in Montreal)
+650 companies
LIFE SCIENCES AND HEALTH TECHNOLOGIES
++++
Highly qualified pool
of talents
04
25
Canada’s university capital: 11 university
institutions and 60 colleges
320,000 post-secondary students, including
200,0000 university students and 33,000
international university students
Largest research hub in Canada: most funded
and largest pool of university researchers
Best student city in the Americas:
Sources: QS Best Student Cities in the World, 2018; Ministère de l’Éducation,
du Loisir et du Sport du Québec, 2016; Research Infosource Inc., 2017
THE BEST STUDENT CITY INTHE AMERICAS AND CANADA'S UNIVERSITY CAPITAL
Montréal
Boston
Toronto
Vancouver
New York
1
2
3
4
5
Advantageous cost
structure for business
and life
05
1st MOST COMPETITIVEoperating costs
RANKED
20 LARGEST
in Canada and
the U.S.
METRO AREAS
Clinical trials
and
Life Science
R&D Centre1
28th
nd Bio-pharma
manufacturing2
Medical devices
manufacturing
plant
Source: fDi Benchmark, 20181: Research, discovery, design, development or testing of biotechnology or pharmaceutical related products and/or medical devices2: Companies in this industry develop and manufacture therapeutic products and vitro diagnostics using biotechnology
28
VERY ATTRACTIVE OPERATING COSTS
OVERALL RUNNING A BUSINESS COSTS
LESS IN GREATER MONTRÉAL THAN IN
ANY OTHER MAJOR METROPOLITAN AREA
IN CANADA AND THE U.S.
18% cost advantage on average for life sciences
and medical devices
Targeted tax incentives
+
Affordable costs (labour, property, utilities,
etc.)
=
Great competitiveness11%
15%
22%
23%
0% 5% 10% 15% 20% 25%
Medical devices manufacturing
Bio-pharma manufacturing
Life Science R&D Centre
Clinical trials
GREATER MONTRÉAL’S COST ADVANTAGECompared to the average of the 20 largest
metropolitan areas in Canada and the U.S., 2018
Source: fDi Benchmark, 2018
29
TAX RATES AND NON-TAXATION OF FOREIGN EARNED INCOME
*Note: Canada does not tax foreign earned income when it has a tax treaty with the country where the income was earned
or has signed an information-sharing agreement with this country.
Source : Ministère de l’Économie, de la Science et de L’Innovation du Québec and Raymond Chabot Grant Thornton, April 2018
0% 5% 10% 15% 20% 25% 30% 35%
New York
Illinois
New Jersey
California
Massachusetts
Québec (Montréal)
Ontario
COMPARISON OF CORPORATE EFFECTIVE TAX RATE (%)Selected Canadian provinces and U.S. States, 2018
26.5%
26.7%
28.11%
27.32%
27.98%
28.51%
34.6%
AN EASY ACCESS TO HIGHLY ADVANTAGEOUS INCENTIVES
Sector tax credits Such as:
Up to 38% for film and video production
Up to 37.5% for multimedia production
30% for e-business development
24% for international financial centres
Major projects and
innovationsGrants, interest-free loans and other
support available, such as competitive
electricity rates as low as
US¢2.48/kWh for large power
Labour developmentTax credits such as:
25% of costs to implement training
programs
50% of costs to create a HR
department
Research and developmentUp to 30% tax credit on R&D
Tax holiday for foreign researchers
and experts
Many tax credits
are refundable
—a company could
receive the value of its tax
credit even if it has no tax
payable
COST ADVANTAGE
Greater Montréal
31
COST ADVANTAGE
Greater Montréal
32
33
A LOW COST OF LIVING
Greater Montréal is cheaper than almost all other
large cities in North America and Western Europe:
Greater Montréal offers a higher purchasing power
thanks to:
Cheap housing
Generous family allowances
Low private medical insurance costs
Affordable child care
*A higher rank represents higher costs
Source: Cost of Living Survey, Mercer, 2018
13
19 28
34
35 5
2 56 7
1
71 8
5
86 90 95 109
109
116
147
Mercer Cost of Living IndexWorld rank, 209 cities*
34
AN EXCEPTIONAL QUALITYOF LIFE
Montréal is the 2nd best city in the world for
millennials:
Sources: Millennial Cities Ranking, Nestpick, 2018; Quality of Living Survey,
Mercer, 2017; Federal Bureau of Investigation, 2017; Statistics Canada, 2017
1
2 3
4
5
6
7 8 9 10
Nestpick Millennial Cities Ranking, 2018World rank
Lowest homicide rate among the 20 largest
metropolitan areas in Canada and the U.S.
Health care provided at no cost
Lowest education tuition fees in North America
Vibrant cultural metropolis with +100 festivals
and 70 museums
© T
M -
Madore
-D
aphné C
AR
ON
Montreal
International: your
strategic partner
since 1996
06
The Greater Montréal investment promotion agency –
since 1996
A single point of access to a series of personalized, free
and confidential services
80 specialists (economists, lawyers, communications,..)
to assist you in setting up or expanding your business
This includes a group of
territorial (EU, Americas, Asia) and
sectorial experts (Life Sciences & Health Technologies -
ICT - AI - Aerospace)
MONTRÉAL INTERNATIONAL AT A GLANCE
A CATALYST FOR FOREIGN
INVESTMENT
LSHT: Life Sciences and Health Technologies
We can assist you through
the whole process
Navigate through the
LSHT ecosystem
Organize a tailored visit
in Montréal
Outline the strategic
options of the project
Assist you to structure
your project
Identify available
incentives if relevant
Introduce you to the
right partners
Assist you with
international mobility (work
permit) and talent
acquisition
Public announcement
« After care »
Exploratory phase Project definition Implementation
STRATEGIC PARTNERSHIPS ORINTERNATIONAL EXPANSION IN MONTREAL
CHRISTELLE FASANO, PHARM D
Director, Business Development, Life Sciences &
Health Tech – Foreign investments
Montréal International
t +1 514 987-9312
c +1 438 392-4540
MONTRÉAL INTERNATIONAL
380 Saint-Antoine Street West
Suite 8000
Montréal, Québec H2Y 3X7
t +1 514-987-8191
f +1 514-987-1948
www.montrealinternational.com
